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Tech Guy Opening Calls & Comments 5/14/24

July Wheat - 2.75 Higher


July Corn - 0.25 Higher


July Soymeal - 0.30 Lower


July Beans - Steady


June Crude Oil marked it's low 3 ticks above the 77.65 support level, after selling off almost 2 bucks from the high of 79.38.

support - 78.00

77.65

resistance - 78.90

79.80


July Soybeans marked the low 1.50 cents above the 1202.00 support price, after selling off about 25 cents from last night's high.

support - 1210.00

1204.50

resistance - 1228.50

1238.00, 1250.00


July Soymeal marked the low 4 ticks below the 365.50 support level last night, then rallied 10 bucks to just above the first target of 373.50.

support - 371.40

366.50

resistance - 377.60

387.50


July Corn marked the low 1.25 cents above the 465.25 support price, after selling off 11 cents from resistance at 475.50.

support - 467.00

465.50

resistance - 475.50

481.00


July SRW Wheat marked it's high 1.75 cents above the 694.25 resistance level, then sold off about 26 cents to the low.

support - 671.50

667.00

resistance - 696.00

720.00


July HRW Wheat marked it's high 1.50 cents shy of the 710.00 resistance level, then sold off to 2 cents below the 682.00 support price.

support - 682.25

679.00

resistance - 701.00

710.00, 722.00


July Spring Wheat marked it's low 2 ticks above the 722.00 support price, after selling off almost 20 cents, from near the 744.00 resistance mark.

support - 729.50

721.50

resistance - 741.00

745.00 - breakout, 750.00


June S&P traded from about 10 points below the 5227 support to up near the 5264 resistance price.

support - 5264

5241

resistance - 5320

5334 - old high


If July Cocoa does not trade below 7025 (today's low) overnight and tomorrow, I expect an up move to between 9100 and 9500 this week. If 7025 is violated to the downside, 5800 is next support down below.



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